The Cabinet has extended limits on stocks of paddy and rice that traders can hold by one years to check hoarding and price rise.The objectives of control orders is to enable State Governments to continue to take effective de-hoarding operations under the Essential Commodities Act, 1955 by fixing stock limits/licensing requirements etc. in respect of these commodities. The cabinet also approved exemption to exporters having IEC code issued by DGFT from the purview of Stock holding limits under the Essential Commodities Act, 1955 with respect to edible oil seeds, edible oils and rice.This will help exporters benefit from economies of scale and bigger operations for optimally meeting export demands on along terms basis.
